NBU governor: Inflation may exceed 20% by year-end

NBU governor: Inflation may exceed 20% by year-end

Ukrinform
In April, inflation rate in Ukraine was at 15.9%, and it may exceed 20% by the end of the year.

"We have a significant level of price rise but it is controlled. And such indicators cannot be compared with 2015 when inflation reached 60% in some months," Governor of the National Bank of Ukraine Kyrylo Shevchenko wrote in his op-ed for NV Business.

According to him, the NBU has significant experience in fighting inflation.

As Shevchenko noted, there have been no cases in world history when a country entered a state of war with such a highly developed financial system and monetary policy.

"As long as market mechanisms have a limited impact on the market, we will contain price rise by fixing the exchange rate and keeping some restrictions in place. But as soon as monetary transmission channels work and uncertainty subsides, we will return to the inflation targeting regime which once helped to overcome the mentioned inflation of 60%," the NBU governor explained.

As reported, consumer inflation in 2021 was at 10%.

In February 2022, year-over-year inflation rate accelerated to 10.7% (from 10% in January). On a monthly basis, prices went up 1.6%.

On February 24, the Russian Federation launched a new phase of the eight-year war against Ukraine – a full-scale invasion. Russian invaders shell and bomb peaceful Ukrainian cities, towns, and villages, torturing and killing civilians.

ol


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2022 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-